Nikkei Long Term Outlook

  • Nikkei is trading in narrow range around 20000 and 18531 in the Dec month. the index has taken support near 18600 (55 W EMA) and slightly recovered from that level.
  • Any short term weakness can be seen only below 18500 and below that a dip till 18090/17650 is possible .
  • Minor short term resistance is around 19170 (12 M MA) and any close above targets 19300/19460/ bullishness can be seen if it closes above above 20000 targets 20900.

It is good to sell on rallies around 19500 with SL around 20000 for the TP of 18600/18090

The material has been provided by InstaForex Company –